The U.S.-U.A.E. Business Council hosted a conversation with H.E. Mohammed Abdulrahman Alhawi, Undersecretary of the U.A.E. Ministry of Investment, on Monday, October 21, 2024, at the Ritz Carlton Hotel in Boston, Massachusetts. His Excellency and his team are visiting Boston and New York this week to better inform key U.S. stakeholders on the mandate of the newly created U.A.E. Ministry of Investment.

His Excellency Alhawi discussed the U.A.E.’s new investment strategy, including the better facilitation of Foreign Direct Investment (FDI) in the U.A.E. and the enhancement of the U.A.E.’s reputation as a leading global investment hub. He emphasized the geographical advantage of the U.A.E. as a well-connected hub which is developing both the hard infrastructure (such as airports, ports, and railways) and soft infrastructure to support partnerships with companies around the world.

Abdulla AlMulla, Head of Private Investments at the Ministry of Investment, elaborated on how the Ministry plans to attract FDI and create a conducive investment environment. Abdulla also detailed the Ministry’s work with U.A.E. state-owned entities and family offices to enable them to expand into other regions.

His Excellency honed in on the soft infrastructure, or policy reforms, the U.A.E. has made to make it easier to do business in the country. He specifically spoke about the updates U.A.E. leadership made to foreign ownership, visa, and licensing laws as part of its Projects of the 50 initiative. He stated the 13 Comprehensive Economic Partnership Agreements (CEPAs) signed with different countries allows for businesses to not only access the local U.A.E. market but 4-5 billion people in adjacent regional markets.

His Excellency cited digital infrastructure and AI technology as a key area of focus for the Ministry. He also referenced agtech, manufacturing, energy, logistics, and healthcare and life sciences as promising economic sectors that the Ministry is focused on as part of the U.A.E.’s strategic vision for economic diversification and its commitment to fostering innovation. He spoke to the opportunities that exist for U.S. companies in those markets, including how the Ministry is ensuring the proper ecosystems are established to support the needs of their partners. 

As the Ministry continues to explore new areas of partnership, His Excellency emphasized the need for partners who can develop human capital and contribute to the process of further diversification of sectors in the U.A.E. He stated that it is important that their partners want to grow with the U.A.E. and are invested for the long-term. He offered the Ministry as a resource for companies who need help connecting to the right partners within the U.A.E. ecosystem.

For questions about this event, please contact Caitlin Cottrell at ccottrell@usuaebusiness.org.